Internet of Energy Network (IOEN)

What Is Internet of Energy Network?

The Internet of Energy Network is a not for profit organization that uses a new digital currency and open source protocols to build scalable Software-Defined Grids®, by connecting all energy devices to work with each other, to collectively balance the grid. Smart interconnection and energy balancing brings grid security and stability, and allows cheap clean energy to be integrated effectively. Without balancing and optimisation of what uses electricity as well as what produces and stores electricity, the grid cannot balance, and clean energy installations grind to a halt.

Internet of Energy Network Unique Features

Just as Bitcoin lifted the lid on the financial industry and made us consider the true meaning behind money, IOEN brings an understanding of energy home.. Literally. And there are other aspects about IOEN that remove obstacles to a cleaner future:

Pain Point 1: Central Control, Central Coordination

The flow of energy is very top down. There are currently 2.2 million households with power plants sitting on their rooftops in Australia, and now these are being switched off because the grid lacks a transactive energy system through which they can coordinate and integrate safely. To solve the grid problem will cost $14tr over the next 10 years if a digital integration solution isn’t implemented. The problem is not a lack of technology or ability for devices to transact. The problem is that there is no common service for their coordination.

Pain Point 2: Energy is Out of Our Hands

Energy, currently, is hard. It is in the hands of a large entrenched infrastructure at the national level, with a heavy investment to maintain. Microgrids democratise energy, and give energy to the local level. We see IOEN as a marketplace, the Grand Central Station clearing house. We are changing the game similar to how bitcoin gave control of finance to individuals.

Pain Point 3: The Speed of Funding Microgrids

The world needs to pivot, quickly, to renewable energy and requires a frictionless path to capital to raise projects. IOEN is targeting microgrids; geographically proximate sets of energy producers, storage, and consumers. IOEN will also support “virtual microgrids”, where disparate participants can trade services to support this new economy worldwide. We uniquely connect DeFi blockchain to small, fast mutual credit economies in microgrids.

Pain Point 4: Not Finding Innovation From Everywhere

This emerging new view of energy needs to be turbocharged for connecting new solutions and to grow these organically and empirically. IOEN is a marketplace and Grand Central Station of ideas from an open source, *grass roots* perspective. We encourage developers everywhere to contribute.

Roadmap

The phases that we have outlined in our roadmap are:

Phase One: Establishment

Phase Two: Bootstrapping the Network

Phase Three: IOEN Ecosystem Services

As described in our Roadmap, we see our future in three, overlapping, phases. After the initial organisational framework is put in place, we will seek and incentivise participants at the microgrid level. IOEN’s vision is a bottom-up, grass roots movement where we have strength in numbers. Each phase will offer complementary sets of incentives to establish the IOEN and a thriving ecosystem of applications and services built on top.

We see the roadmap from technical, commercial, and community perspectives, with milestones planned in each of these areas.

Phase Two: Bootstrapping the Network

In phase 1 incentives included heavy discounts on future energy credits, and staking rewards. Staking will continue including from the team itself, to ensure a robust treasury for energy project funding. The ‘upper half’ of our architecture in the blockchain space will become more full-featured, with more DeFi services and a Microgrid Funding Benefits scheme launch.

Phase two is about building out IOEN and seeking new developments as part of a 100 Grids campaign. Our global team hiring continues as we seek experts in power engineering in the area of island and grid connected microgrid projects.

We already have a set of field tested devices that have been in the hands of consumers in 2020 and 2021; we will encourage more through a Proof of Participation incentive scheme. Here we establish requirements for hardware to run the IOEN agent, on the way to a full certification program. Proof of Participate will reward early adopters, tapering to a level that will remain through phase three and beyond.

Early in phase two our frontrunner RedGrid in Australia will incorporate a full ‘points’ scheme in its energy Powers smartphone app, and they have plans to create a community battery simulator to support a project in that area. The points are a mutual credit community currency, controlled by a ‘microDAO’ as per our whitepaper.

IOEN is working with Emergi, a Dutch provider of electric vehicle fleets in Liberia and the Ivory Coast, that will include agent software as our first ‘mobile’ microgrid use case. There is also activity in Bangladesh and the Subcontinent. With each use case, we will abstract to a growing library of knowledge and templates so others can implement.

Key to IOEN’s knowledge base are the open source libraries and a thriving developer community. Phase 2 begins to flesh out the dev ecosystem, although we are not starting from zero; there is a pent up demand to contribute, as witnessed by the many communities described in the roadmap part one article.

Internet of Energy Network Token Economy

IOEN Token Utility Overview

Before we do a deep dive on how the token works, here’s a brief summary of its core functions:

Utility — $IOEN tokens are used to pre-purchase energy credits for future grids at an estimated 90x reduction in future price.

Governance — $IOEN tokens are used by participants to govern the IOEN Protocol, ensuring consensus in decisions in a decentralized network.

Staking — Buyers and sellers can lock their $IOEN tokens into the system and have access to discounted tiers of IOEC (local Holochain mutual credit) which can be used to pay for energy and grid services. Locking also reduces circulating supply and opens opportunities for earning energy ecosystem rewards, including NFTs.

Efficiency — bringing transactions that are fast, secure, and scalable using post-blockchain technology.

Availability — anyone can take part, small or large amounts of $IOEN enable everyone to participate at the level they want to, with rewards available to all.

Detailed Token Metrics

Token Distribution

Reserve: 12,8%

Marketing: 10,00%

Advisors & Legal: 5,00%

Tiered Discounts: 35,00%

Community Incentives: 5,00%

Pubilic Sale: 17,2%

Refer to item no.7

Token Release Schedule

Updating…

Partners & Advisors

Our strategic partners have been central to delivering the launch of IOEN. With their help, we were able to unlock the potential of IOEN on an international stage. We can’t wait for the next steps with them to deliver the vision of the project.

We would also like to share a special thanks to our campaign managers SL2 Capital, and our media support partners including Mashable, Bullish Unicorn, and Tokensuite who provided continual strategic marketing support throughout the entire token sale.

Thank you to our launchpads TrustSwap and TrustPad for helping our public community members enter the IOEN ecosystem. We also want to recognise Kaizen Finance for introducing our staking mechanism to our token holders immediately at launch — and the option for our early adopters to get great APY and exclusive rewards.

Team Members

AU21 Capital, Polygon, SL2 capital, Exnetwork Capital, RedGrid, Mashable, Holochain, MAN MAN, Lysithea, Maven Capital, SOLIDUM, Dizer Capital, Inclusion Capital, EXTRA WATTS, Black Dragon